Stanza Living raises $4.4 Million in venture debt from Alteria Capital
Stanza Living raises $4.4 Million from Alteria Capital.
Company focuses to build an inventory of over one lakh beds by 2021
The company offers services in Pune, Hyderabad, Chennai, Bangalore, Delhi NCR, Vadodara and Dehradun.
Stanza Living plans to accelerate its business operations, explore other financial structures and expand its offerings.
Firm currently has 15,000 beds in its inventory.
Alteria Capital invests $4.4 Million in Delhi based student accommodation platform Stanza Living. The company is planning to use raised funds in accelerating its business operations, exploring other financial structures and expand its offerings.
According to Anindya Dutta, managing director and co-founder, Stanza Living, “The raised fund will aggrandize our momentum to bring our high-quality services. Stanza Living provides branded experience to students across India and focusing to build an inventory of one lakh beds by 2021. By this strategic partnership with Alteria, we will also focus on nourishing interesting funding and financing structures concerned to our business,”
Stanza Living is owned and operated by Dwelve Spaces Pvt. Ltd. Startup came on the ground in February 2017 by Sandeep Dalmia and Dutta. It provides the facility of fully furnished and managed accommodation to students shifting to new cities. The firm also has a partnership with fitness centers, restaurants, and other Institutions to provide resident rewards. Apart from accommodation startup also assists students in getting in touch of alumni, internship opportunities as well as guidance on online study materials. The company provides full-stack business model, which it says to enable to design spaces and tailor its services to cater to their specific needs and wishes.
The company has grown its business seven times since last year and has the inventory of 15,000 beds across Pune, Hyderabad, Chennai, Bangalore, Delhi NCR, Vadodara, and Dehradun in 2019. It workforce comprises of 250 members in the country.
Stanza Living did its first funding in 2017 and has raised $2 Million from venture capital firm Accel and multi-stage investment firm Matrix Partners India. It also raised $10 Million in a fresh funding round last year led by global venture capital firm Sequoia India. Matrix and Accel also participated in the funding round.
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